- Yield History0.27%
- 3 Year sharpe0.16
- 3 Year alpha8.05
- Distribution Typeincome
- BenchmarkIA UK All Companies Sector
- Legal StructureUnit Trust
- Fund Size (month end)Unit Trust
- IA SectorUK All Companies
- Manager GroupMarlborough
- DomicileUnited Kingdom
This fund is well suited to investors who want a bit of everything, as it invests in companies of any size with good growth prospects. Launched in 1995, it was originally called the Marlborough UK Leading Companies fund but was renamed in 2014 to reflect its investments across the size spectrum.
Richard Hallett, the manager since 2005, backs 40 to 50 companies that have a sustainable competitive advantage they can use to raise prices and/or take market share. This could come from the quality of their management, branding, sales and marketing, product innovation, research and development or intellectual property. Often, it is a combination of these factors.
He particularly likes businesses that can grow throughout the market cycle, with limited need for capital expenditure and high levels of free cashflow to invest in further growth. Hallett tends to steer clear of cyclical and capital-intensive businesses such as commodities, construction and biotech companies and those with low barriers to entry, including contractors, consultancies and recruitment companies.